Wedbush Securities Inc. Makes New Investment in Alight, Inc. $ALIT

Wedbush Securities Inc. bought a new position in shares of Alight, Inc. (NYSE:ALIT) during the 2nd quarter, Holdings Channel.com reports. The fund bought 27,925 shares of the company’s stock, valued at approximately $158,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC grew its position in Alight by 40.3% during the second quarter. Innealta Capital LLC now owns 17,439 shares of the company’s stock worth $99,000 after buying an additional 5,012 shares in the last quarter. Savant Capital LLC bought a new stake in shares of Alight during the 2nd quarter valued at $557,000. Bryce Point Capital LLC acquired a new position in Alight in the second quarter valued at about $179,000. Levin Capital Strategies L.P. raised its position in shares of Alight by 24.6% in the 2nd quarter. Levin Capital Strategies L.P. now owns 375,634 shares of the company’s stock valued at $2,126,000 after buying an additional 74,134 shares in the last quarter. Finally, Palogic Value Management L.P. lifted its holdings in shares of Alight by 4.0% during the 2nd quarter. Palogic Value Management L.P. now owns 489,000 shares of the company’s stock worth $2,768,000 after acquiring an additional 19,000 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Alight in a research note on Wednesday, October 8th. Wedbush decreased their price target on Alight from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. UBS Group reduced their price target on shares of Alight from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Needham & Company LLC lowered their price objective on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.25.

Alight Price Performance

Shares of ALIT opened at $2.27 on Friday. The business has a 50-day moving average of $3.09 and a 200-day moving average of $4.41. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -0.56 and a beta of 1.02. Alight, Inc. has a 1 year low of $2.23 and a 1 year high of $8.35.

Alight (NYSE:ALIT) last released its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $533.00 million for the quarter, compared to analyst estimates of $539.43 million. Alight had a negative net margin of 94.23% and a positive return on equity of 7.89%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, equities research analysts anticipate that Alight, Inc. will post 0.54 earnings per share for the current year.

Alight Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.04 per share. The ex-dividend date is Monday, December 1st. This represents a $0.16 annualized dividend and a dividend yield of 7.0%. Alight’s dividend payout ratio is presently -3.91%.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.